Two Creeks Capital Management LP Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Two Creeks Capital Management LP acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 69,110 shares of the company's stock, valued at approximately $28,573,000. IDEXX Laboratories comprises about 1.7% of Two Creeks Capital Management LP's investment portfolio, making the stock its 19th largest holding. Two Creeks Capital Management LP owned 0.08% of IDEXX Laboratories as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IDXX. Norges Bank acquired a new stake in IDEXX Laboratories during the fourth quarter worth approximately $412,258,000. Flossbach Von Storch SE boosted its holdings in shares of IDEXX Laboratories by 5,439.3% during the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company's stock worth $195,696,000 after purchasing an additional 464,791 shares during the last quarter. William Blair Investment Management LLC increased its stake in IDEXX Laboratories by 701.6% in the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock valued at $174,527,000 after purchasing an additional 369,471 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in IDEXX Laboratories by 265.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company's stock worth $179,867,000 after buying an additional 316,048 shares during the last quarter. Finally, Seilern Investment Management Ltd purchased a new stake in IDEXX Laboratories in the 4th quarter valued at about $113,104,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a report on Monday, April 14th. Barclays lifted their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Piper Sandler upped their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. StockNews.com lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Finally, Bank of America raised their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $523.75.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the sale, the director now directly owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP George Fennell sold 9,986 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $462.53, for a total value of $4,618,824.58. Following the transaction, the executive vice president now owns 8,176 shares of the company's stock, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Down 1.9 %

IDEXX Laboratories stock traded down $8.49 during midday trading on Monday, hitting $428.95. 316,843 shares of the stock were exchanged, compared to its average volume of 631,866. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The company has a 50 day moving average price of $419.93 and a two-hundred day moving average price of $428.79. The firm has a market cap of $34.76 billion, a P/E ratio of 40.22, a P/E/G ratio of 3.41 and a beta of 1.50. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $548.88.

IDEXX Laboratories Profile

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.